Whale Trader "pension-usdt.eth" Liquidates ETH Short Position, Nets $2.21 Million Profit in 11 Hours

On Feb 6, analytics platform Greeks.live shared key crypto options expiration data in a social media post: - 33,000 BTC options expiring; put-call ratio (PCR) 0.54; max pain $80,000; nominal value $2.1B - 219,000 ETH options expiring; PCR 0.91; max pain $2,400; nominal value $420M Crypto markets plunged sharply that day: BTC briefly fell below $60k, while ETH dropped under $1,750. Roughly 10% of total options open interest expired, totaling nearly $26B. BTC and ETH prices extended losses with a strong downtrend, as put options dominated trading. The crypto fear gauge hit 5% at one point, sparking fresh market panic. Implied volatility (IV) for both assets surged to over 1-year highs: - BTC’s main-term IV topped 60%, with short-term at-the-money (ATM) contracts exceeding 110% - ETH’s main-term IV stood at 80%, with short-term ATM contracts above 120% This week, put options held a large share of trading volume. Market makers absorbed a wave of bearish demand, and trading

On February 6, Arkham Monitor reports the Binance SAFU Fund’s address has once again purchased 3,600 BTC, currently valued at approximately $233 million.

On February 6, probabilities on Polymarket for Bitcoin’s price moves this year stand at: - 74% for dropping to $55,000 - 61% for falling to $50,000 - 43% for rising to $100,000 - 34% for hitting $110,000 This rewrite uses concise, direct language typical of U.S. financial quick updates: it omits redundant phrasing (e.g., "the probability of the prediction"), uses action verbs ("dropping/falling/hitting") for clarity, and structures data in scannable bullet points—common in American financial media. Dates follow U.S. formatting (month-day), and "stand at" is a natural phrase for current market metrics.

**Crypto Influencer & Ex-FTX Partner: Bitcoin’s -5.65σ Drop Nears “Industrial-Level Impossible”** On February 6, Benson Sun—crypto KOL and former FTX Community Partner—posted that Bitcoin (BTC) saw an extreme downswing this morning. Calculated over a 200-day lookback period, BTC’s decline hit **-5.65 standard deviations (σ)**. In manufacturing, the Six Sigma standard allows just 3.4 defects per million occurrences, defined as “almost impossible” in human industrial civilization. Yesterday’s BTC volatility was only 0.35σ away from this “industrial-level impossibility.” A -5.65σ event has a theoretical normal distribution probability of roughly 1 in 1 billion. While financial markets have “fat tails” (extreme events more likely than normal distribution predicts), BTC has only seen this level of volatility **4 times** since its trading launch in July 2010—accounting for ~0.07% of all trading days. Even during the deep bear markets of 2018 and 2022, no such rapid decline occurred

On February 6, per on-chain analyst Ai Auntie (@ai_9684xtpa), Trend Research continued transferring 20,000 ETH to Binance. Over the past 6 hours, the firm has allegedly offloaded 47,000 ETH to avoid liquidation—totaling $89.29 million—with the latest liquidation threshold ranging from $1,509 to $1,800.

On February 6, HyperInsight monitoring data reveals that a whale address (0xa9c...) on Hyperliquid has held a long position in ASTER that’s been heavily underwater for nearly four months. The position was opened on October 15 last year at an average price of approximately $1.37. It currently has an unrealized loss of around $2.14 million—equivalent to an 866% loss, or nearly 9x the initial principal. The current position size is about $1.23 million, with a liquidation price of $0.31. Additionally, the address has recently been actively trading xyz:SILVER (a synthetic silver asset) and xyz:XYZ100 (a synthetic Nasdaq 100 index asset), chasing price swings. Its most recent close was a SILVER long position from seven days ago: the position size once peaked at $7.86 million, and it exited with a loss of roughly $1.67 million. After multiple losses, the address’s account balance has dwindled to approximately $0.54 million.